How is Snap processing changes to privacy rules by Apple?

How is Snap processing changes to privacy rules by Apple?

San Francisco, Feb. 5, 2022

Snap, the parent company of Snapchat, reported its first quarterly earnings as a public company late this week.

Unlike Facebook parent Meta, Snap appears to be weathering Apple iOS privacy policy changes that require apps to obtain user consent for tracking, limiting digital advertisers‘ tracking options.

The Snapchat app added 13 million daily active users in the fourth quarter, a 20% year-over-year increase. Snapchat now has 319 million DA users and expects to reach 330 in the current quarter. The company’s Q4 2021 revenue increased 42% to $1.3 billion. Revenue for the full year increased 64%.

Snap has focused heavily on its augmented reality platform and content offerings in recent months. Since the Apple changes took effect last April, Snap, Meta, Twitter and Pinterest have lost a combined $315 billion in market value.
On a conference call, Meta’s CFO said he expects the changes to cost the company $10 billion in 2022.

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